Key Takeaways:
Bitcoin’s network hashrate dropped 145 EH/s since May 28, falling to 885 EH/s as prices slide to February lows.Hashprice fell 26.96% in 30 days to $28.26/PH/s, with Elektron Energy CEO Rapha Zagury calling it Bitcoin’s first “ hashrate bear market.”A 10.76% difficulty reduction is projected for June 13, 2026, as fees below 1% of miner rewards remain a long-term structural concern.At press time, hashprice, the estimated daily return generated by 1 petahash per second (PH/s) of computing power, stands at $28.26 as of June 7. Thirty days ago, on May 7, that figure stood at $38.69, meaning mining revenue has fallen 26.96% from where it was a month earlier.
Onchain Fees Account for Less Than 1% of Miner Rewards as Block Times Drift Past 10 MinutesOnchain fees remain negligible and account for less than 1% of miner rewards, representing just 0.73% of the total over the past day, according to the median average. One encouraging development is that the network’s difficulty has continued to decline in recent adjustments, recalibrating the effort required to discover new blocks. However, that also means less computational power is securing the network, and block intervals often drift beyond the protocol’s expected 10-minute average.
A sizable difficulty reduction is anticipated on June 13, 2026, after the previous adjustment raised difficulty by 1.72%. Although projections remain subject to change, the next epoch could bring a 10.76% decrease as slower block production persists. At present, average block times over the past day have hovered around 11 minutes and 12 seconds.
Elektron Energy CEO Declares Bitcoin’s First Historic Hashrate Bear Market
